PAYPAL HOLDINGS INC.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 68.00 |
| Take Profit | 73.00 |
| Stop Loss | 66.00 |
| Key Levels | 60.70, 66.00, 67.00, 68.00, 73.00, 75.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 65.50 |
| Take Profit | 60.70 |
| Stop Loss | 67.00 |
| Key Levels | 60.70, 66.00, 67.00, 68.00, 73.00, 75.00 |
Shares of PayPal Holdings Inc., an American debit payment processor, are trading at 67.00.
On the daily chart, the price is trying to initiate a Head and shoulders reversal pattern with the Neckline around 68.00.
On the four-hour chart, after consolidating above the current local high of 68.00, the quotes will be able to continue growing and reach the primary target for the pattern at 75.00, and in the event of a downward reversal, a movement to the low of the second Shoulder of the formation of 61.00 is expected.
Technical indicators are holding a buy signal: fast EMA on the Alligator indicator are above the signal line, and the AO histogram is forming ascending bars.
Trading tips
Long positions may be opened after the price rises and consolidates above 68.00, with the target at 73.00. Stop loss – 66.00. Implementation period: 7 days or more.
Short positions may be opened after the price declines and consolidates below 65.50, with the target at 60.70. Stop loss – 67.00.
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